Most successful property investors have a number of tools - Tool 3

One of the most important of them, all is using property management platforms to do the heavy lifting for you and help you with all your property management needs.

That’s because to create significant wealth, investors not only need to be strategic with their property purchases, they also need to hold for the long-term.

Not having fixed-term leases

Having a tenancy agreement in place guarantees your income for the next six or 12 months, while periodic leases mean the tenants can move out with very little notice.

A good practice will ensure that your lease never expires at a time when it’s difficult to relet your property.

For example, never have a lease end in December or January (Christmas holiday period) or even at Easter etc.
These times of the year are very hard to rent properties. There is nothing wrong with getting a tenant to sign a 13 or 14-month lease, so their lease doesn’t expire over these times

Keep tuned for your next tool

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RealRenta also has a FREEvision, so why not check it out

Jason Gwerder
Wednesday, 15 July 2020

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